Sec. 9. All political subdivisions that satisfy the criteria for membership under the rules of the commission are eligible for membership in the fund. A political subdivision is not required to be a member of the political subdivision risk management fund under IC 27-1-29 to be eligible for membership in the fund established by this chapter. Each member of the fund:

(1) shall contribute to the fund in the amount of the assessment charged the member under this chapter; and

Terms Used In Indiana Code 27-1-29.1-9

  • commission: refers to the Indiana political subdivision risk management commission established by IC 27-1-29-5. See Indiana Code 27-1-29.1-1
  • fund: refers to the political subdivision catastrophic liability fund established by this chapter. See Indiana Code 27-1-29.1-2
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • member: refers to any political subdivision that has a membership in the fund, as provided in section 9 of this chapter. See Indiana Code 27-1-29.1-4
  • political subdivision: has the meaning set forth in IC 34-6-2-110. See Indiana Code 27-1-29.1-5
(2) is entitled to the partial payment of certain liabilities from the fund under this chapter.

As added by P.L.272-1987, SEC.7.

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